Indiana § 8-1.5-2-19 Bonds, notes, or other obligations; issuance; approval by commission
for long term bonds

Indiana Statutes

§ 8-1.5-2-19 — Bonds, notes, or other obligations; issuance; approval by commission for long term bonds

Indiana § 8-1.5-2-19

Art. 1.5MUNICIPAL UTILITIES

Ch. 2Transfer, Acquisition, and Improvement of Utilities by

This text of Indiana § 8-1.5-2-19 (Bonds, notes, or other obligations; issuance; approval by commission for long term bonds) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 8-1.5-2-19 (2026).

Text

(a)A municipality may not issue bonds, notes, or other obligations under this chapter without the approval of the commission if the bond, notes, or other obligations are payable more than twelve (12) months after their execution, except as authorized by IC 8-1-2.2-11.

(b)If the evidence presented to the commission establishes that the rates and charges proposed by the municipally owned utility will provide sufficient funds for the operation, maintenance, and depreciation of the utility, and to pay the principal and interest of the proposed bond issue, together with a surplus or margin of at least ten percent (10%) in excess, the commission shall so certify in its order approving the issuance of bonds. As added by Acts 1982, P.L.74, SEC.1. Amended by P.L.103-2008, SEC.5.

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(a) A municipality may not issue bonds,
notes, or other obligations under this chapter without the approval of
the commission if the bond, notes, or other obligations are payable
more than twelve (12) months after their execution, except as
authorized by IC 8-1-2.2-11.
(b) If the evidence presented to the commission establishes that the
rates and charges proposed by the municipally owned utility will
provide sufficient funds for the operation, maintenance, and
depreciation of the utility, and to pay the principal and interest of the
proposed bond issue, together with a surplus or margin of at least ten
percent (10%) in excess, the commission shall so certify in its order
approving the issuance of bonds.
As added by Acts 1982, P.L.74, SEC.1. Amended by
P.L.103-2008, SEC.5.